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73-023
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73-023
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Last modified
10/24/2024 11:30:16 AM
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Resolution 73-023
General - Type
Resolution 73-023
Category
Resolution 73-023
Date
5/29/1973
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� <br />� <br />members and their residents. <br />Section 6. The Board may obtain from company and <br />from any other source such information relating to electric <br />rates and costs as any of its members is entitled to obtain. <br />Section 7. It may receive and hold moneys from the _ <br />Company to finance the Authority in the manner and to the <br />extent provided by the uniform franchise; and it may accept <br />voluntary contributions from its members if the members <br />determine that unusual circumstances warrant providing the <br />Authority with additional financial support; but the Board <br />shall not have any taxing power. It may accumulate reserve <br />funds and may invest and reinvest its funds not needed for <br />current operating expenses in the manner and subject to the <br />limitations applicable by law to villages. The Board shall <br />not at any time incur obligations in excess of funds then <br />available to the Authority. <br />Section 8. It may contract for space, material, and <br />supplies either with a member or with other parties. <br />Section 9. The Board shall provide for an annual <br />independent audit of the books and accounts of the Authority <br />and sha1Z make a financial accounting and report to the <br />rnembers at least once each year. The books and records of <br />the Authority shall be available for and open to examination - <br />by its members at all reasonable times. <br />Section 10. The Board may accept gifts, apply for ana <br />use grants of money or other property from members or �i����� <br />8 <br />
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